XRP is exhibiting strong bullish technical indicators, projecting a potential target price of $15.35. A confirmed breakout from a bullish flag pattern supports this projection based on the pattern’s measured technical move.
Large-scale investors, often termed ‘whales,’ accumulated approximately 50 million XRP tokens following a significant legal settlement. This substantial buying activity signals renewed confidence among major market participants.
Derivatives market activity has surged alongside the price gains. Open interest for XRP futures contracts increased by 20%, while options trading volume saw an explosive rise exceeding 1,300%, reflecting heightened market speculation and leverage use.
Technically, key support levels have been identified using Fibonacci retracement analysis. Zones near $2.67066 and $2.42493 are viewed as crucial near-term support, with a stronger support area located around $1.61092.
Market analysts observe that maintaining price stability above current levels is critical. They suggest that a decisive breakout above the $3.35 resistance barrier could accelerate momentum, potentially propelling XRP towards significantly higher valuation territory.